The science of climate change is compelling, the threat is real and the economic and environmental benefits are tangible. The need for action to prevent climate change is clear. This Government has put forward a comprehensive plan to introduce a carbon price for Australia. The Treasury modelling has been prepared to inform policy design and public discussion about carbon pricing. Treasury modelled a range of scenarios which explore different environmental targets and design features in a carbon pricing scheme. The modelling provides important insights into the economic impacts of carbon pricing at global, national, sectoral and household levels. The world is moving to act. At the Copenhagen and Cancun conferences, we saw the world step up with pledges to take action to put the world on a path to reduce the risks of dangerous climate change. Australia must contribute its fair share to this world action. The Government is committed to taking action in a fair and effective way. Pricing carbon through a market mechanism provides incentives for emission reductions to occur where they are cheapest. As the Productivity Commission found, when firms and consumers make the decisions, rather than governments, the costs of reducing emissions are lower. A carbon price is the most economically responsible, fair and effective way to tackle climate change.
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